To recoup surging energy and raw materials costs, ArcelorMittal raises some US prices

摘要

The mid-April announcement by ArcelorMittal, the world's largest steel maker, that it would raise prices on some steel shipments in the US by 250 dollars a ton boosted the fortunes of a number of American steel makers. US Steel, based in Pittsburgh, added 8.74 dollars, or 6 per cent, for a record close on April 16 of 155.37 dollars. AK Steel (West Chester, Ohio) also reached its highest value ever, gaining 2.35 dollars, or 3.6 per cent, to close at 68.50 dollars. Other beneficiaries included Nucor (Charlotte, North Carolina) and Steel Dynamics Inc (Fort Wayne, Indiana). As reported by Dale Crofts of Bloomberg News, according to an internal memo ArcelorMittal was to add the surcharge to all orders of flat rolled steel for shipment 5 May and later. The Luxembourg-based company will not add the charge to spot sales or contracts that already allow prices to fluctuate, the memo said.